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Billtrust
Billtrust processes $1T in AR transactions annually through an AI-native order-to-cash platform serving enterprises from Nashville, Kraków, and Hyderabad.
Billtrust
Billtrust operates as a specialized enterprise-software provider focused exclusively on accounts receivable automation for mid-market to large enterprises. The platform spans invoicing, payments, cash application, collections, and credit management — a full order-to-cash suite that embeds AI-driven matching and predictive analytics. The firm reports $1T in annual transaction volume processed across over 260 AP portal integrations and 40 direct ERP connectors, serving customers such as White Cap and Kinepolis. Deployment concentrates on software that captures higher electronic-payment adoption, reduces days sales outstanding, and automates cash application. Its composition includes modular SaaS applications and embedded payments tools that monetize through processing fees and platform subscriptions. Geographically, Billtrust serves a North American and Western European base from offices in Nashville, Sacramento, Kraków, and Hyderabad, with go-to-market partnerships spanning accounting-software ecosystems and bank distribution channels. Billtrust employs teams across five offices and reports more than 24 years in the AR automation segment. The company cites measurable customer outcomes — including a 45-to-90% automated match-rate improvement for an unnamed medical equipment manufacturer and $36,000 saved in three months for White Cap — reflecting a tightly scoped product suite that replaces manual receivables workflows. In 2025, the firm released a guide on autonomous agents for AR, signaling an R&D emphasis on agentic AI applied to invoice generation and collections correspondence. A structural differentiator is the product architecture itself: the platform integrates deeply with legacy ERP systems through direct connectors while layering proprietary AI on top of existing financial operations — allowing clients to adopt automation without ripping out the general ledger. This embedded posture gives Billtrust visibility into clients’ real-time receivables data, creating a data moat that a generic payment processor or ERP module does not replicate.
General information
Firm type
Asset Manager
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Nashville
Corporate office
1222 Demonbreun St, Suite 900, Nashville, Tennessee 37203, United States
Additional offices
Kraków, Poland · Hyderabad, India · Hamilton Township, New Jersey, United States · West Sacramento, California, United States
Sector focus
Frequently asked questions
What does Billtrust actually do?
Billtrust provides a suite of AI-powered accounts receivable software that automates invoicing, payments, cash application, collections, and credit decisions. It targets mid-market and enterprise finance teams seeking to lower day sales outstanding and reduce manual reconciliation work. The platform integrates with over 40 ERPs and 260 AP portals to digitize the entire order-to-cash cycle.
How does Billtrust make money?
Billtrust generates revenue through a combination of SaaS subscription fees for its AR modules and transaction-based fees on the payment volume it processes. Its embedded payments solution, which supports multiple payment modalities, captures a take rate on the $1T in annual transaction volume it reports. The firm does not disclose a specific split between subscription and transaction revenue.
Who are Billtrust's investors or parent company?
Billtrust was taken private by EQT Private Equity in 2022 and now operates as a portfolio company. Prior to the EQT acquisition, it was a publicly traded firm on Nasdaq under the ticker BTRS after completing a SPAC merger in 2021.
Does Billtrust offer payment processing or just software?
Billtrust offers both. It embeds payment processing directly into its invoicing and cash-application workflows, allowing customers to accept electronic payments without a separate gateway. This means Billtrust acts as a merchant of record on payment flows, not solely as a SaaS vendor.
Which industries does Billtrust serve?
Billtrust serves industries with complex, high-volume receivables processes: wholesale distribution, building materials and construction (White Cap is a disclosed case study), healthcare equipment manufacturing, and media and entertainment (Kinepolis cinemas). It also supports general B2B commerce where electronic-invoice presentment and portal integration drive digital adoption.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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